Museveni asks MTN to list shares on local exchange

Ugandan President Yoweri Museveni has told telecom firm MTN Uganda needs to sell shares on the local stock exchange. [Photo: Reuters]

KAMPALA- Ugandan President Yoweri Museveni said telecom firm MTN Uganda needs to sell shares on the local stock exchange to facilitate domestic ownership of the company and ensure more of the money it earns stays in the country.

A unit of South Africa’s MTN Group, the company is the East African country’s largest telecommunications firm, controlling a subscriber base of more than 10 million.